We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

LSI Investors Target $7B Merger's Bid-Blocking Provision

Law360, Los Angeles (January 14, 2014, 5:50 PM EST) -- A pension fund invested in electronics company LSI Corp. is leading a group of shareholders in a suit filed Monday in Delaware chancery court contending the company’s $6.6 billion merger with an electronic chipmaker gave them the shaft because of a contract that made outside bidding almost impossible.

In LSI’s agreement to be purchased by chipmaker Avago Technologies Ltd., the company locked into what’s called a “don’t ask, don’t waive” standstill provision, which disables other buyers from moving forward with other — potentially higher — bids, according to the suit.

The market’s reaction alone was enough to indicate LSI didn’t get...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Attached Documents

map

Kirkland & Ellis LLP has redefined what it means to be the biggest of BigLaw — weighing in at 2,116 attorneys by year end 2018 and becoming the first firm since Law360 began tracking law firm head counts to top 2,000 U.S.-based attorneys.

Related

Sections

Law Firms

Companies

Government Agencies